Swvl Holdings Corp  a global provider of tech-enabled transport solutions with a current market capitalization of $44.54 million, has announced a three-year contract renewal worth around $4 million, expected to surpass $5.2 million by its conclusion. According to InvestingPro data, while the company holds more cash than debt on its balance sheet, it faces profitability challenges with negative EBITDA of $8.62 million in the last twelve months.

This deal, confirmed in January 2025, extends Swvl’s six-year partnership, enhancing its role in Saudi Arabia’s transportation sector, particularly with the NEOM smart city project. The contract represents approximately 30% of the company’s trailing twelve-month revenue of $17.21 million.

The agreement underscores Swvl’s commitment to expanding its services in Saudi Arabia, providing crucial transport links to remote areas, including NEOM, a city under construction envisioned to span 26,500 square kilometers. Swvl’s technology aims to manage dynamic transport needs and optimize fleet operations, ensuring reliable service delivery for essential operations.

Swvl’s platform offers innovative transportation options, aiming to enable safer, more efficient, and accessible mobility. Operating in various cities globally, the company seeks to empower individuals and organizations to navigate effectively.

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